FinancingI believe that this fairly large equity financing for PDL ($130mm CDN ?), the financially-levered, low-grade Thunder Bay producer, is positive for PFN, as it qualifies a batch of institutions as PGM players. The PFN story, and chart (down from $4.50) should be of interest to some new players, something we obviously require.
I was very interested to learn in the PDL press reease that Kaiser-Francis is the (or a) major player in PDL, and that they are ponying up at these prices to maintain their level of interest.
I live in Calgary, where George Kaiser(An American) is a legend, regarded for his meteoric increase in wealth, his aggressiveness, openmindedness, personal knack and aptitude for the details of resource exploration, and his long-track record of working with junior co's in JV's and outright acquisitions.
Kaiser undoubtedly is watching River valley extemely closely, as his actions on PDL show his bullishness towards PGM's.
Needless to say, although regarded as fair and honest, the man does not pay retail.
Perhaps some of our other posters know more about his involvement in PDL (how he got involved, at what prices).
Great to see folks like Amplats and Kaiser floating around.
Bernard Baruch
long PFN